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Last week, the IRS released the new inflation-adjusted contribution limits for health savings accounts and high deductible health plans.
The yearly maximum HSA contribution was bumped up by $300 from its 2023 numbers to $4,150 for self-coverage, while family coverage saw an annual contribution cap increase of $550 to $8,300.
The minimum annual HDHPs deductible for self-coverage rose by $100 from 2023 levels to $1,600 a year, whereas family plans saw an upward adjustment of $200 to $3,200, while the maximum expenses that will have to come out of pocket each year climbed $550 to $8,050, while family out-of-pocket expenses went up by $1,100 to $16,100.
You can read more about these updates here.
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